Octavia Wealth Advisors LLC Invests $230,000 in Wells Fargo & Company (NYSE:WFC)

Octavia Wealth Advisors LLC bought a new position in Wells Fargo & Company (NYSE:WFC) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 4,675 shares of the financial services provider’s stock, valued at approximately $230,000.

Other hedge funds also recently bought and sold shares of the company. Fortis Group Advisors LLC purchased a new position in Wells Fargo & Company during the third quarter valued at approximately $25,000. Arlington Trust Co LLC purchased a new position in Wells Fargo & Company during the fourth quarter valued at approximately $25,000. Leith Wheeler Investment Counsel Ltd. grew its stake in Wells Fargo & Company by 208.0% during the fourth quarter. Leith Wheeler Investment Counsel Ltd. now owns 528,104 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 356,620 shares in the last quarter. Studio Investment Management LLC bought a new stake in Wells Fargo & Company during the fourth quarter valued at approximately $28,000. Finally, Strategic Investment Solutions Inc. IL bought a new stake in Wells Fargo & Company during the first quarter valued at approximately $28,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Trading Up 1.4 %

NYSE:WFC opened at $57.18 on Thursday. The company has a fifty day moving average of $55.42 and a 200 day moving average of $48.61. Wells Fargo & Company has a 52 week low of $36.40 and a 52 week high of $58.44. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 1.14. The firm has a market capitalization of $202.44 billion, a P/E ratio of 11.94, a P/E/G ratio of 1.10 and a beta of 1.19.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results on Friday, April 12th. The financial services provider reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.10. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. The company had revenue of $20.86 billion during the quarter, compared to analyst estimates of $20.19 billion. During the same period in the prior year, the business posted $1.23 EPS. The firm’s revenue was up .6% compared to the same quarter last year. On average, research analysts predict that Wells Fargo & Company will post 5.04 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 2nd were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date was Thursday, February 1st. Wells Fargo & Company’s payout ratio is currently 29.23%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on WFC shares. Morgan Stanley lifted their target price on shares of Wells Fargo & Company from $63.00 to $64.00 and gave the company an “overweight” rating in a research report on Monday. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $51.00 target price on shares of Wells Fargo & Company in a research report on Tuesday, January 9th. Barclays lifted their target price on shares of Wells Fargo & Company from $54.00 to $66.00 and gave the company an “overweight” rating in a research report on Tuesday, January 2nd. HSBC lifted their target price on shares of Wells Fargo & Company from $55.00 to $60.00 and gave the company a “hold” rating in a research report on Thursday, March 28th. Finally, Citigroup reiterated a “neutral” rating and set a $63.00 target price (up from $57.00) on shares of Wells Fargo & Company in a research report on Wednesday, March 20th. Thirteen research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $58.85.

Wells Fargo & Company Profile

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.